Steve Jobs Deposition on Options Backdating Scandal

Forbes has been able to obtain the full text of Steve Jobs’ sworn deposition given on March 18, 2008, to the Securities and Exchange Commission (119-pages) over Apple’s (AAPL) options backdating scandal.

In the deposition, Jobs told SEC lawyers that after being paid a $1 per year salary since his return at the helm of the company, combined with the deteriorating value of his stock options in the dot-com bust, he felt unfairly compensated for his work. He was also unhappy with the fact that his board of directors never approached him with a stock option reward without his prompting.

“It wasn’t so much about the money,” Forbes reports Jobs told the SEC. “Everybody likes to be recognized by his peers..I felt that the board was really doing the same with me.”

Jobs has not been a party to the litigation, which the SEC brought against two of his execs, former CFO Fred Anderson and former general counsel and board secretary Nancy Heinen, both of whom are no longer with the co.

Read the full deposition here »

Comments

[October29th:]

The Apple Stock options Scam was made public when Apple suddenly announced in 2006 that it was "voluntarily investigating itself". Why would a corporation publicly announce that it has commited fraud? Because I filed a lawsuit against them after they had stolen thousands of my stock options given to me for outstanding performance at Apple for the relase of their flagship Mac OS X. This was part of a retaliation where I was "layed off" from the company right after September 11 and todl to leave the country (I am a minority).
Apple realized that I was going public with the options theft through my lawsuit (and that dozens of other employees had unknowingly had their options stolen/redated as well). Immediately after the "voluntary self investigation", Apple claimed that Steve Jobs had nothing to do with the scam.
These are all lies and attempts at covering up fraud. Steve Jobs' disapearance from public view for "medical reasons" for the last year is also a scam.

Apple has so far paid out $14 million to share holders over this (paid for by insurers), but the victims like myself have not receieved a penny because of the crooked Palo Alto Superior Court which claims in its records that I "dismissed" my case against Steve Jobs and ignored the fact that Jobs had illegally sent Apple lawyers and staff to the court in spite of the fact that the lawsuit was against HIM PERSONALLY AND HE HAD BEEN SERVED.
Steve Jobs is hiding from getting served again with lawsuits over the options scam and all of this is under the guise of his "illness".

Apr 27 08:46 PM